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To: EPro who wrote (8382)	7/24/1999 10:04:00 PM
From: zuma_rk	Read Replies (2) \| Respond to of 20297

Thanks for all the input on auto-downloads into Quicken -- it's pretty frustrating that none of the internet banks are hooked up yet... I'm thinking that maybe I'll continue to use Citi (without downloading to Quicken -- as a matter of principle, I refuse to pay the monthly charge), and just setup automatic payments of my direct deposit to my Schwab Account, and just cut all my checks (via Intuit online services) though Schwab, and then download my Schwab activity though Quicken as usual. I'm hoping that will the fall release of Quicken 2000, they'll have more banks set up for auto-download... Again, thanks for the feedback -- if anyone else can report on their experiences with internet banks, I'm sure we'd all appreciate it... RK

To: EPro who wrote (8382)	7/25/1999 12:13:00 PM
From: Brooks Jackson	Read Replies (5) \| Respond to of 20297

A general observation: My cursory review of bank pricing of e-banking leads me to conclude that they really, really don't 'get it' even yet. None of them. They are still searching for ways to squeeze more fee income out of consumers, rather than trying to find a new business model that will allow them to survive. The way I see it, they are just fat, dumb and vaguely unhappy about their declining margins. Citi is a perfect example. They think they will make a bundle by selling insurance, mortgages, brokerage services and even Quicken downloads to customers who are too stupid, lazy or both to look for a better deal. Well, I tried their brokerage and found their advice was crap and their rates were not remotely competitive. I went to them first for a mortgage when I re-financed my house, and their rates were way, way above the deal I eventually got from a local mortgage banker (and a TEXAS bank) that I found on the web. The only think I liked about Citi was that their ATM's are everywhere, and e-banking was free. I have some deep reservations about the new 'net banks -- they are 'buying deposits' with very high interest rates and have not demonstrated that they have any ability to invest those deposits profitably, let alone safely. Remember all those Texas S&Ls that paid high rates and blew the money putting up 'see-through' office towers? However, more and more I'm coming around to Tom Lindt's point of view. Pete Kight holds the key to the banks' salvation, in my opinion. But if they're too stupid to take what he's offering, then let 'em die. I sure hope Yahoo! and AOL are smart enough to support OFX/Quicken in their rollouts. If so -- one of 'em may gain me as a customer.